On 13th July Nifty analysis I said that major indices touched their life time high and since Nifty was totally following global market sentiment, so on 15th July 2021 it was somehow expected that Nifty will touch it's lifetime high again. But this time Nifty made a new lifetime high with 30 points above it's previous lifetime high. European market is already in...
understanding trades of nifty future for 16.07.2021 (Friday)
On 14th July Nifty has given breakout above 15800 and closed near it's major resistance of 15835 to 15845. The move in Nifty is similar to what happened in European market. If you have read my previous analysis, where I've said that major global indices touched their lifetime high. So as a result of that we may see similar move in Nifty and another possible bull...
understanding trades of nifty future for 14.07.2021 on the basis of support and resistance.
On 12th July after break down of 15751 level in 5 minute chart Nifty broke 15700 but it has taken support from it's support zone of 15648 and previously Nifty has taken support from this level too. So now Nifty have to break it's 15648 level for further correction. On 13th July Nifty may test it's 15751 level (upto 15800). Global market effects making Nifty to...
understanding nifty future trades for 13.07.2021 on the basis of support and resistance.
understanding trends through support and resistance.
Nifty got no chance to move upward on 8th July, except the first 15 minute candle and from there people started selling. And with today's fall it is confirmed now that breakout above 15845 was fake and was bull trap. So what triggered Nifty to fall almost 200 points from day high? Let's try to look at the events to understand the fall better. i) Nifty wasn't...
Nifty has been breaking it's resistance from last 2 days and was showing upward momentum. 5th July 2021 Nifty closed near it's strong resistance of 15845. Nifty wasn't able to break it and closed at 15834.35 with a red doji candle in 15 minute chart. Though market looks bullish but there isn't enough momentum to push it forward right now. At the time of...
In my Nifty Analysis of 6th July I have written that Nifty may give false break out above 15845 and it happened as expected. So why I said that? Because Global market were showing negative sentiment on their respective chart. There were no positive atmosphere or news in Global market neither in Indian domestic market but nifty was going high. Which means the...
Before coming to what will or what could happen on 8th July 2021, let's take a look at some of the key important factors. What could move Nifty up and what could bring Nifty down. 1. Till now Nifty tested it's 15900 to 15920 range 4 times. 2. Global market is positive but sideways. 3. Nifty created a new support for itself at 15800, so until 15800 is broken Nifty...
Though nifty had been in a bull run as we expected and discussed in last analysis but couldn’t give its day closing well If it closed above 15840 we couldn’t have expected another bull run as 18540 range is level where multiple rejections can be seen, Tomorrow first 15 minute candle is to watched, if closed above 15840, we can expect a small run toll 15900...
Global market ended in positive on Friday but there isn't enough momentum to push Nifty above it's strong resistance point 15845. Nifty closed on Friday at 15722.20 and the nearest resistance is 15761. Nifty closed near it's 200 MA, if nifty sustain over 200 MA then there will be up move. Nifty will open gap up on Monday morning. If Nifty open above 15761 and...
More like INVERTED HEAD AND SHOULDERS PATTERN identified and also a TRENDLINE which had been acting as a RESISTANCE Now standing at MAKE OR BREAK LEVEL as break of 15745 level would not only break the trend line but also the NECKLINE of the potential INVERTED HEAD AND SHOULDERS PATTERN, but candle close is need to confirm the breakout, the safest way to make new...
Nifty has reached it's support today, which was 15673 and closed above 15673. Global market sentiment is positive also. So what to expect tomorrow: Nifty will open gap up, profit booking of overnight positions may come but it will go upward to test it's resistance of 15751 to 15761. What you can do: You can enter into buy position tomorrow until nifty price get...
As expected Nifty today took support at 15750. I hope you guys enjoyed the fall. So what to expect now? 15800 is new Resistance for Nifty. As you can see in the chart. Though Nifty is in downtrend as you can see in the 15 minute chart. Nifty testing is 200 MA support, but I don't expect a big fall tomorrow. There will be two opening scenario for tomorrow. 1....
Yesterday I said there will be no upward momentum in Nifty because there is nothing positive to push it up. As predicted Nifty came for selling from 15920 and closed today below support level of 15834 and also below 20 MA, 50 MA. Tomorrow one can expect Nifty to go down 100 to 150 points. If it breaks it's support of 15750 then more downfall is expected. 15850...
Nifty shows a potential upside for tomorrow session. A perfect W bottom with clear diversion on TDI. The diversion is strong as the first leg of the diversion is outside the Bollinger band followed by the second inside leg. If it breaks the trend line we can expect the 61.8% levels tomorrow.